Radiant Logistics, Inc. (NYSE: RLGT) grew in price after the company reported stronger-than-expected results for its fourth quarter on Thursday.
The company, based in Bellevue, Wash., reported revenues increased to a record $233.8 million for the fourth fiscal quarter ended June 30, 2018, up $32.0 million or 15.9% compared to revenues of $201.8 million for the comparable prior year period.
Net revenues increased to a record $59.3 million for the fourth fiscal quarter ended June 30, 2018, up $9.5 million or 19.0% compared to net revenues of $49.8 million for the comparable prior year period.
Net income allocable to common stockholders increased to a record $4.3 million, or $0.09 per basic and fully diluted share, compared to net loss allocable to common stockholders of $1.0 million, or $0.02 per basic and fully diluted share for the comparable prior year period.
CEO Bohn Crain said, "We are pleased to report record results for the quarter ended June 30, 2018 and broad-based improvement in our financial performance.
"On the technology front we also continue to make meaningful progress on a number of strategic technology initiatives, including the continued expansion of our new SAP-based transportation management system that is now deployed in seven of our company-owned locations and on track for deployment to our strategic operating partners later this year”.
Shares picked up 60 cents, or 13%, to $5.20
